Ancora Advisors LLC boosted its stake in Eaton Co. PLC (NYSE:ETN) by 14.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 151,579 shares of the industrial products company’s stock after acquiring an additional 19,599 shares during the period. Ancora Advisors LLC’s holdings in Eaton were worth $13,146,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in the stock. Financial Architects Inc boosted its holdings in shares of Eaton by 2,675.0% during the 3rd quarter. Financial Architects Inc now owns 1,221 shares of the industrial products company’s stock valued at $106,000 after buying an additional 1,177 shares in the last quarter. Reilly Financial Advisors LLC boosted its holdings in shares of Eaton by 145.3% during the 3rd quarter. Reilly Financial Advisors LLC now owns 1,266 shares of the industrial products company’s stock valued at $110,000 after buying an additional 750 shares in the last quarter. Zions Bancorporation bought a new stake in shares of Eaton during the 2nd quarter valued at $113,000. Group One Trading L.P. bought a new stake in shares of Eaton during the 3rd quarter valued at $134,000. Finally, Fort L.P. bought a new stake in shares of Eaton during the 2nd quarter valued at $116,000. Institutional investors and hedge funds own 77.64% of the company’s stock.
In other Eaton news, insider Ken D. Semelsberger sold 11,500 shares of the business’s stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $86.57, for a total value of $995,555.00. Following the completion of the transaction, the insider now owns 78,883 shares of the company’s stock, valued at approximately $6,828,901.31. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Richard H. Fearon sold 25,000 shares of the business’s stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $83.29, for a total value of $2,082,250.00. Following the completion of the transaction, the insider now directly owns 221,459 shares of the company’s stock, valued at approximately $18,445,320.11. The disclosure for this sale can be found here. In the last three months, insiders sold 39,500 shares of company stock valued at $3,331,455. 0.50% of the stock is owned by insiders.
ETN opened at $76.01 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.49 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $32.66 billion, a PE ratio of 16.35, a P/E/G ratio of 1.37 and a beta of 1.49. Eaton Co. PLC has a 1 year low of $67.70 and a 1 year high of $89.85.
Eaton (NYSE:ETN) last posted its quarterly earnings results on Tuesday, October 30th. The industrial products company reported $1.43 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.43. Eaton had a return on equity of 13.48% and a net margin of 10.06%. The firm had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.49 billion. During the same quarter in the previous year, the firm earned $1.25 EPS. Eaton’s quarterly revenue was up 3.9% compared to the same quarter last year. Sell-side analysts forecast that Eaton Co. PLC will post 5.35 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 16th. Shareholders of record on Friday, November 2nd were given a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date of this dividend was Thursday, November 1st. Eaton’s dividend payout ratio (DPR) is 56.77%.
ETN has been the topic of a number of research reports. UBS Group set a $97.00 target price on shares of Eaton and gave the company a “buy” rating in a report on Wednesday, October 31st. Deutsche Bank boosted their target price on shares of Eaton from $95.00 to $102.00 and gave the company a “buy” rating in a report on Friday, September 28th. Morgan Stanley initiated coverage on shares of Eaton in a report on Monday, August 20th. They set an “equal weight” rating and a $86.00 target price on the stock. Credit Suisse Group initiated coverage on shares of Eaton in a report on Friday, October 12th. They set an “outperform” rating and a $91.00 target price on the stock. Finally, Wells Fargo & Co restated a “buy” rating on shares of Eaton in a report on Wednesday, September 26th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and fifteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $86.67.
Eaton Corporation plc operates as a power management company worldwide. Its Electrical Products segment offers electrical and industrial components, residential products, single phase power quality products, emergency lighting and fire detection products, wiring devices, structural support systems, and circuit protection and lighting products.
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